Biden to announce GM plant's reopening-source

[UpInArms]

Source: Reuters

WASHINGTON, Oct 25 (Reuters) - U.S. Vice President Joe Biden plans on Tuesday to visit a closed General Motors plant in Wilmington, Delaware, where he is expected to announce that it will be reopened for the building of plug-in hybrid electric cars.

The California-based venture capital firm Fisker Automotive Inc has reached a deal to buy the former GM assembly plant and plans to use it for the manufacture of the cars, according to a source familiar with the details of Biden's visit.

Henrik Fisker, chief executive and founder of the firm, is scheduled to attend Tuesday's event, said the person who asked not to be identified in advance of the formal announcement.

Read more: http://www.reuters.com/article/bondsNews/idUSN2516314520091025

[Psephos]

1. It will be interesting to see how much Fisker paid, and what incentives were granted.

I'll go waaaaay out on a limb and say the plant was cheap and the incentives were generous. ;)

[physioex]

8. Oh definitely....

They got a lot of "incentives". But since the government is giving out free money for wars and bank bailouts, there is no point in questioning this.

[Arctic Dave]

2. How much do you think the oil companies will spend to destroy everything about this company.

[stlsaxman]

4. Billions.

[zeemike]

3. Yes!!!

That is exactly what they need to do....start mass producing electric cars right here.
If Biden can pull this off he will look like a hero to a lot of folks.

[stlsaxman]

5. Go Joe!

[WheelWalker]

6. GoJo MoJo!

:loveya: :kick:

[jillan]

7. Yes!! We need more stories like this.

I bet Joe will be beaming doing this.

[Romulox]

9. So...a company in which Al Gore has a large position is given a half a billion to build a car

in the the Vice President's state, at a plant purchased from a government owned company...

Cute set of "coincidences" there... :eyes:

[WriteDown]

10. The great thing though....

Is you'll be able to get a new credit card at the same plant you are buying your electric car from. :)

[Romulox]

11. It's pretty brazen crony capitalism. "Great" in the sense that excesses precede

a backlash... :sigh:

[Romulox]

12. Oh...and Fisker is building the car they got the gov't loan for in Finland.

God Bless America! :puke:

[eppur_se_muova]

13. Seriously misleading -- you're getting your info from Fox News.

Like all the most effective lies, this one is built around a small kernel of truth, smothered in layer upon layer of distortion. Debunked at these links:

http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=389&topic_id=6848841&mesg_id=6848841#

http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=389&topic_id=6848851&mesg_id=6848851#

[Romulox]

17. Nope. WSJ.com

http://online.wsj.com/article/SB125383160812639013.html

[Romulox]

19. And I don't see much debunking here--they're building the Karma in Finland with US taxpayer $$$

You can spin that fact in way that suits your agenda, and I can do the same. But the above is indeed a fact. :hi:

[eppur_se_muova]

14. Well, GM managed to put the plant out of busines without any gov't help at all.

Why blame Dems for the fact that bungling GM management left a mess for them to clean up?

(Oh, and check out reply #13 before joining what sounds like the chorus of Fox News ... )

[blue_onyx]

15. Actually the government did help...

with its nonsense "free trade" policies.

[Romulox]

18. Funny that the government isn't setting them up in Ohio or Michigan, though.

Just a coincidence, I'm sure. :hi:

[Demeter]

16. You know, if that's what it takes to get American Jobs and American Made Cars

then that's what it takes.

[Romulox]

20. A half billion in taxpayer dollars and a WHOLE LOTTA favors called in, you mean?

I guess it's ok when they're our cronies. :shrug:

[Demeter]

21. Well, Pitchforks and Torches Simply aren't Selling

It may take another decade....